EX-99.1 2 ex99-1.htm

 

Exhibit 99.1

 

REAL MESSENGER HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. dollar, except for the number of shares)

 

   As of 
  

September 30,

2024

  

March 31,

2024

 
   (unaudited)   (audited) 
ASSETS        
Current Assets          
Cash  $5,792,882   $597,160 
Other current assets   870,501    649,080 
Deferred offering costs   376,081    376,081 
Total Current Assets   7,039,464    1,622,321 
           
Property and equipment, net   38,061    45,670 
Total Assets  $7,077,525   $1,667,991 
           
LIABILITIES AND SHAREHOLDERS’ DEFICIT          
Current Liabilities          
Due to related parties - short-term  $95,345   $87,456 
Accrued expenses and other liabilities - short-term   202,557    214,746 
Total Current Liabilities   297,902    302,202 
           
Convertible promissory notes   12,000,000    5,000,000 
Due to related parties - long-term   84,648    17,333 
Accrued expenses and other liabilities - long-term   12,575    5,095 
Total Liabilities   12,395,125    5,324,630 
           
Shareholders’ Deficit          
Class A Ordinary Share (par value $0.0001 per share, 496,000,000 shares authorized; 1,000,000 and 1,000,000 shares issued and outstanding as of September 30, 2024 and March 31, 2024, respectively)   100    100 
Class B Ordinary Share (par value $0.0001 per share, 4,000,000 shares authorized; 4,000,000 and 4,000,000 shares issued and outstanding of September 30, 2024 and March 31, 2024, respectively)   400    400 
Additional paid-in capital   13,038,627    13,038,627 
Accumulated deficit   (18,382,140)   (16,746,217)
Accumulated other comprehensive income   25,413    50,451 
Total Shareholders’ Deficit   (5,317,600)   (3,656,639)
           
Total Liabilities and Shareholders’ Deficit  $7,077,525   $1,667,991 

 

Note: Real Messenger Corporation (“RMSG”) completed its previously announced business combination with Nova Vision Acquisition Corp. (Nasdaq: NOVV) (“NOVA”), a publicly traded special purpose acquisition company on November 19, 2024. The business combination was approved at an extraordinary general meeting of NOVA’s shareholders on August 19, 2024. Upon the closing of the business combination, NOVA and Real Messenger Holdings Limited each became a wholly owned subsidiary of RMSG. Beginning November 20, 2024, RMSG’s ordinary shares commenced trading on the Nasdaq Stock Market (“Nasdaq”) under the symbol “RMSG” and the warrants commenced trading on Nasdaq under the symbol “RMSGW”.

 

 

 

 

REAL MESSENGER HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

(Expressed in U.S. dollar, except for the number of shares)

 

  

For the Six Months Ended

September 30,

 
   2024   2023 
Revenues  $ -   $ - 
             
Operating Expenses          
Sales and marketing expenses   (398,408)   (834,065)
General and administrative expenses   (629,256)   (1,102,619)
Research and development expenses   (568,245)   (631,119)
Total Operating Expenses   (1,595,909)   (2,567,803)
           
Loss from Operations   (1,595,909)   (2,567,803)
           
Other income (expense), net          
Interest income   34,781    270 
Interest expense   (74,795)   - 
Total other (expense) income, net   (40,014)   270 
           
Loss Before Income Taxes   (1,635,923)   (2,567,533)
           
Income tax expense   -    - 
           
Net Loss  $(1,635,923)  $(2,567,533)
           
Other Comprehensive (Loss) Income:          
Foreign currency translation adjustment   (25,038)   387 
Comprehensive Loss  $(1,660,961)  $(2,567,146)
           
Weighted Average Number of Ordinary Shares Outstanding          
Basic and Diluted   5,000,000    4,000,000 
           
Loss per Share          
Basic and Diluted  $(0.33)  $(0.64)